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Of its 12-sided replacement Royal Mint chief executive, Adam Lawrence said: "It's been designed to be fit for the future, using security features that aim to safeguard our currency, and currencies around the world, for years to come.

"Staying ahead of sophisticated counterfeiters remains a constant challenge and this coin helps in that battle."

Does Barclays still accept the old £1 coin?

Barclays confirmed that their customers can continue to deposit their old £1 coins into their personal and business accounts.

The bank has said it has not yet set a date for when they will cease to accept the coin.

This means that - providing you hold an account with Barclays - you can still exchange your round pounds.